SYDNEY based developer and fund manager Lend Lease has announced an agreement to develop a swag of national, master planned residential and community projects with Japan based Sekisui House.

The arrangement, which is subject to conditions, will see Sekisui acquire a 50 per cent interest in Lend Lease's controversial 15-level Serrata apartment tower proposal, in Docklands.

Sekisui House will also buy land at Lend Lease's Hyatt Coolum on the Sunshine Coast, Queensland, and a piece of a project at Wentworth Point, near Homebush, in western Sydney.

A copy of Lend Lease's ASX announcement is below:

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